Sunday 4 December 2016

Bank gets more details of couple's spending

Tim Healy

Published 01/03/2016 | 02:30

AIB Headquarters in Dublin Photo: Bloomberg
AIB Headquarters in Dublin Photo: Bloomberg

AIB has secured further information, and is awaiting more, concerning the expenditure of a couple whose debt to the bank amounts to almost €20m, the Commercial Court has been told.

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To facilitate the exchange of that information, Mr Justice Brian McGovern agreed to adjourn to April the bank's proceedings against William and Sheila Moran, who owned the well-known pub-restaurant Morans On The Weir, Kilcolgan, Co Galway.

Earlier this month the bank secured orders requiring the couple provide further information about their expenditure.

The bank alleged they had spent €900,000 on living expenses from proceeds of property sales but hadn't used any of the proceeds to reduce the bank debt.

In court earlier this month, the couple had, through a solicitor, denied claims they had failed to fully answer questions about transactions and their living expenses.

The court heard that Mr Moran is seriously ill and his wife is a housewife with no involvement in her husband's financial affairs.

Irish Independent

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